By Scout Nelson
The U.S. Department of Agriculture (USDA) brings forth good news for livestock producers. A brand-new insurance option, dubbed the Weaned Calf Risk Protection, is soon to grace several states. Managed by USDA’s Risk Management Agency (RMA), it promises Actual Production History (APH) coverage specifically for beef cow-calf producers.
This will help them shield their revenue from spring calving operations, taking effect in the 2024 crop year.
Marcia Bunger, the RMA Administrator, accentuated the complex nature of running a cow/calf operation. She emphasized the need for multiple insurance alternatives for ranchers, similar to the options available for crop growers.
This novel addition shows RMA's commitment to catering to the dynamic needs of producers by offering tailored solutions.
Just like other APH policies, this insurance aims to cover producers against unforeseen yield losses arising from various natural events. These include droughts, excessive rainfall, hailstorms, and more.
The uniqueness of Weaned Calf Risk Protection lies in its focus on providing coverage for both a dip in prices and a loss in yield owing to decreased overall weaning weight.
Good news for livestock producers in South Dakota, Colorado, Nebraska and Texas. They can avail of this insurance program starting from Jan. 31, 2024. A variety of coverage levels ranging from 50% to 85% are on the table, with an added provision for catastrophic coverage.
To top it off, this insurance is a worthy addition to the already existing array of livestock insurance options. Other programs include Livestock Gross Margin (LGM), Livestock Risk Protection (LRP), and Dairy Revenue Protection (DRP), to name a few.
Photo Credit: istock-simplycreativephotography
Categories: South Dakota, Livestock, Beef Cattle